Pennsylvania Liberty Bank & Trust Company (Wilkes-Barre, PA)

Episode Information

Episode UID
60006771581
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
6000677 routing
Routing Number
60-0067
Start Date
September 23, 1931
Location
Wilkes-Barre, Pennsylvania (41.246, -75.881)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1aff9aa8c4592456

Response Measures

None

Events (4)
1. September 23, 1931 Receivership
Newspaper Excerpt
the Pennsylvania Liberty Bank and Trust company ... was taken over by the state banking department last fall. ... state-appointed receiver Joseph Bednar (mentioned Feb 24, 1932 article).
Source
newspapers
2. September 23, 1931 Run
Cause
Local Banks
Cause Details
Runs and heavy withdrawals in Wilkes-Barre following failures/closings of local banks and general local panic
Measures
Wilkes-Barre Clearing House required 60 days' notice for withdrawals; some banks paid 10% to tide depositors over; currency rushed in from Federal Reserve
Newspaper Excerpt
Heavy Runs At Banks. Central banks ... subjected to heavy runs yesterday
Source
newspapers
3. September 23, 1931 Suspension
Cause
Government Action
Cause Details
Taken over by the Secretary of Banking to conserve depositors and prevent preference after runs
Newspaper Excerpt
the Pennsylvania Liberty Bank and Trust company ... closed their doors and taken by the state banking
Source
newspapers
4. March 15, 1932 Other
Newspaper Excerpt
Distribution of funds in Wilkesbarre's three closed banks ... delayed by failure of surety to pay their bank-deposit bonds ... $150,000 of Pennsylvania Liberty Bank & Trust Co.
Source
newspapers

Newspaper Articles (4)
1. September 23, 1931 The Times-Tribune Scranton, PA
Article from The Times-Tribune, September 23, 1931

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Article Text

SIXTY-DAY RULE PUT EFFECT BY BANKS WILKES-BARRE HOUSES ACT OVER STATE TAKES OVER HEIGHTS BANK. Wilkes- Barre, Sept. 23 (INS). The third bank in Wilkes Barre to close In many days, the Heights Deposit bank here, failed to open for business On the at the hour set for was notice stating property of the institution had been taken over by Secretary of Banking Gordon, to conserve of positors and stockholders and prevent preference for withdrawing The last statement of the bank showed assets deposits of talized at had in surplus and undivided profits of The institution. located in midterrific and last evening. when the Pennsyl vania Liberty Bank and Trust company and the Dime Bank Title and Trust company closed their doors and taken by the state banking Early today and decided to place the in the hands of the secretary of banking. W. B. Davies was placed in charge. Heavy Runs At Banks. Central banks most of them subjected to heavy runs yesterday reported conditions more nearly normal today as withdrawal rule was proclaimed by the Clearing association and rerushed in from federal to stem the tide of withdrawals Despite the recession in uneasiness, there considertension the general bank ing situation and to allay it. several banks they would pay 10 per cent to tide depositors over while the rule is

2. September 24, 1931 The Morning Press Bloomsburg, PA
Article from The Morning Press, September 24, 1931

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Article Text

REQUIRE NOTICE Wilkes-Barre Banks Halt Runs by Savings Account Depositors Wilkes-Barre, Sept 23-Actuated by runs on local banks following closing of the Pennsylvania-Liberty Bank and Trust Company and the Dime Bank and Trust Company here, the WilkesBarre Clearing House Association today announced depositors would be required to serve sixty days' notice before withdrawing funds. Enforcement of the sixty-day notice rule, it was explained. is in keeping with State banking laws, The ruling will remain in effect as long as the present uneasy situation prevails, officials of the association said. Banks not affiliated with the Clearing House Association were favorable to the move and also announced the sixty-day rule. Reassured somewhat by statements of leading bankers and clearing house officials that the general situation here among banks is good, depositors today evinced s normal attitude toward financial houses and business went forward much as usual. The situation was also aided by arrival of several million dollars in currency from Federal Reserve banks, rushed in to prevent a sudden run on any local bank.

3. February 25, 1932 The Tribune Scranton, PA
Article from The Tribune, February 25, 1932

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Article Text

Bank Receiver Asked To Issue Statement WILKES-BARRE Pa. Feb. 24 Restless because they have received no dividend. more than 500 depositors the Pennsylvania Liberty Bank and Trust company Wilkes -Barre, which was taken over by the state banking department last fall. tonight meeting in this city instructed commitformally demand from Joseph Bednar. state-appointed receiver statement of the bank's condition the day It closed and of the condition of the present time. Members of the committee reported that they had made one request for such statement and had not obtained it, and that refused again they will carry their request to Governor Pinchot. FAST RUNNER Fair Customer- this dye fast? Clerk-As fast as the roses on your cheek, madam. Customer- you mind showing me something -Passing Show.

4. March 15, 1932 Pittston Gazette Pittston, PA
Article from Pittston Gazette, March 15, 1932

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Article Text

FUNDS SURETY COMPANIES Distribution of funds in Wilkesbarre's three closed banks, that were taken over by the State Departmen of Banking, has been delayed by failure of surety to pay their bank-deposit bonds to the Commonwealth of Pennsylvania. Reports from Harrisburg are that almost $4,500,000 is due the Commonwealth on unpaid bank deposit bonds. Of that amount, $430,000 are represented in the bonds on public funds in the three closed banks in Wilkesbarre. There is bond of $250,000 of Dime Bank Title & Trust Co., one of $150,000 of Pennsylvania Liberty Bank & Trust Oo., and one of $30,000 of Heights Deposit Bank.